I am a newbie having taken a position late last year Led, Josik and Mick I know have years of experience, as do others and have a very good understanding and knowledge of all things WRL
A very different story in Cameroon for VOG, the Government basically did not renew/extend a contract and VOG lost 53% of their production demand overnight from Logbaba - expected to be a very temporary situation whilst negotiations are completed.
The situation in Tanzania is very different with demand increasing for both the new gas powered plants and industrial end users.
Certainly have been some chunky buys throughout, bodes well it would seem and a great first week for you LedZep, well done!
Have a lovey weekend all, looking forward to the 2018 journey with WRL
Peel Hunt have a GBX 40.00 PT on the stock. The PT suggests a potential upside of 50.94% from Wentworth Resources (LON:WRL)�s last stock close price. This rating was revealed to investors in analysts note on Monday morning.
https://goo.gl/tTqFdq
I am sure interest will build Mick, the Move to the UK by the bod and the re-domiciling the Company from Canada to a European country coupled with Malcy's increased coverage and an improving outlook will all help as will the revelation of who is in the data room for the farmout :)
Been holding since last year Mick, debt is of course a concern but revenues and payments are improving as is production volumes and tembo combined with the Bod moving over to the UK all provide some upside.
Good luck!
President Energy
President continues to be active in the financial markets and today announces its first Argentine commercial bank loan with two leading banks in country. They have, with Banco de Credito and Banco Hipotecario arranged an $8m loan over 42 months at 7.5% above Libor. This will be used to defray part of the cost of the recent acquisition of the Nequ�n assets bought from Chevron and will free up more of the company�s other financial resources and positive cash flow to �materially grow its Argentine business as appropriate�.
With over $21m� raised in recent weeks in both equity and debt markets, the company�s flexibility is seriously improved and any reduction in exposure to IYA has got to be good news. Whilst the whole sector is appearing to take little or notice of $60 + oil and share prices are ludicrously low and offering significant value in many areas patience will be needed but when investors do work it out PPC will be one of the first to rally.
http://www.malcysblog.com/
The Loan is for the sum of US$8 million and is for a term of 42 months with capital and interest repayable over that time on a quarterly basis and benefiting from a 6 month initial capital repayment holiday. The interest rate is 7.5% over Libor, which compares favourably with the existing IYA shareholder credit line facilities